Han-gins Indxx Healthcare Megatrend ETF Forecast
Han-gins Indxx Healthcare Megatrend ETF downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Han-gins Indxx Healthcare Megatrend ETF price fell by -1.31% on the last day (Tuesday, 25th Jun 2024) from 6.55€ to 6.47€. During the last trading day the ETF fluctuated 0.449% from a day low at 6.47€ to a day high of 6.49€. The price has fallen in 6 of the last 10 days but is still up by 1% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -2 thousand shares and in total, 155 shares were bought and sold for approximately 1.00€ thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Han-gins Indxx Healthcare Megatrend ETF with a 90% probability to be traded between 6.18€ and 6.66€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
W311.F Signals & Forecast
The Han-gins Indxx Healthcare Megatrend ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 6.44€ and 6.44€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.45%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Han-gins Indxx Healthcare Megatrend ETF
Han-gins Indxx Healthcare Megatrend finds support from accumulated volume at 6.40€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved 0.0290€ between high and low, or 0.449%. For the last week the ETF has had daily average volatility of 0.83%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (W311.F) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Han-gins Indxx Healthcare Megatrend Equal Weight Ucits Etf to open at 6.47€, and during the day (based on 14 day Average True Range), to move between 6.39€ and 6.54€, which gives a possible trading interval of +/-0.0705€ (+/-1.09%) up or down from last closing price. If Han-gins Indxx Healthcare Megatrend Equal Weight Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 6.49€ (0.34%) than the support at 6.40€ (0.99%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Han-gins Indxx Healthcare Megatrend Equal Weight Ucits Etf ETF A Buy?
Han-gins Indxx Healthcare Megatrend holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.914 Sell Candidate Downgraded
Predicted Opening Price for Han-gins Indxx Healthcare Megatrend Equal Weight Ucits Etf of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
6.47€ ( 0.150%) | 6.47€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for W311.F
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.50 | 0.598% |
R2 | 6.49 | 0.427% |
R1 | 6.49 | 0.321% |
Price | 6.47 | |
S1 | 6.46 | -0.0218% |
S2 | 6.46 | -0.128% |
S3 | 6.45 | -0.299% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.57 | 1.62% |
R2 | 6.49 | 0.387% |
R1 | 6.49 | 0.340% |
Price | 6.47 | |
S1 | 6.40 | -0.99% |
S2 | 6.26 | -3.17% |
S3 | 6.07 | -6.11% |
FAQ
Click here for our free guide on how to buy Han-gins Indxx Healthcare Megatrend Equal Weight Ucits Etf ETF.